Suppose you are given the following data on demand for a product. The price elasticity of demand when price decreases from $9 to $7 is:
A) 0.63.
B) 1.16.
C) 1.60.
D) 2.27.

Name: Suppose you are given the following data on demand for a product. The price elasticity of demand when price decreases from $9 to $7 is: A) 0.63. B) 1.16. C) 1.60. D) 2.27.
Brand: Quizplus
Rating: 4.9 (40 reviews)

Question

Suppose you are given the following data on demand for a product. The price elasticity of demand when price decreases from $9 to $7 is: 
A) 0.63. 
B) 1.16. 
C) 1.60. 
D) 2.27.

Quizplus · Accepted Answer

The Answer is C

Suppose You Are Given the Following Data on Demand for a Product